Precious Metal rebounds as tepid dollar offsets rate-hike fears
Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – Gold and Silver prices are seeing rebound as MACD Indicator has reversed giving buy signal.
Long-term View (3-4months) – Positive – –Any dips towards 51000 and 55000 should be used as buying opportunities for the target of 55000 and 65000 for Gold and Silver respectively in long-term.
SPOT Prices
SPOT Gold 4 Daily Price Chart
SPOT Silver 4 Daily Price Chart
Important News and Triggers
International News ––Bullion prices climbed as pullback in the dollar outweighed pressure from hawkish remarks by U.S. Federal Reserve officials on interest rate hikes. U.S. Fed officials James Bullard and John Williams reiterated their stance on further rate hikes.
Monetary Policy – The Fed Chair Jerome Powell’s speech at a Brookings Institution event on Wednesday is now of interest to traders seeking more clarity on the
central bank’s policy stance.
